Is the 30K Starwood Preferred Guest AMEX bonus worth it? TravelSort reader Marcus writes “Is it worth getting the 30K SPG American Express? I get that the normal bonus is 25,000 SPG points, but 30,000 points still doesn't seem like much for the $5000 minimum spend. Plus, I'm not even sure I'm eligible since I had the SPG AMEX about 4 years ago. Am I missing something?”
I'm pretty ambivalent myself about the SPG AMEX, which is why I didn't trumpet the return of the 30K bonus two days ago, so I'm glad Marcus asked this question–chances are, some other folks are also wondering whether it's worth it to apply.
First, since there are both consumer and small business versions of the SPG AMEX, here are the details for these cards:
30K Starwood Preferred AMEX
- Offer valid until September 14, 2015
- Earn 30,000 bonus Starpoints after using your new card to make $3000 in purchases within the first 3 months of card membership
- Earn 2 Starpoints when using the card on eligible purchases at Starwood hotels, in addition to the 2 or 3 points Starpoints per dollar you receive as an SPG member on eligible Starwood hotel spend
- Receive SPG elite credit for 5 nights or 2 stays
- No foreign transaction fees
- No annual fee the first year, then $95 per year
30K Starwood Preferred Business Credit Card
- Offer valid until September 14, 2015
- Earn 30,000 bonus Starpoints after using your new card to make $5000 in purchases within the first 3 months of card membership
- Earn 2 Starpoints when using the card on eligible purchases at Starwood hotels, in addition to the 2 or 3 points Starpoints per dollar you receive as an SPG member on eligible Starwood hotel spend
- Receive SPG elite credit for 5 nights or 2 stays
- No foreign transaction fees
- No annual fee the first year, then $95 per year
30K Bonus Is As Good As It Gets for the SPG Cards
The usual bonus for both the personal and business SPG AMEX cards is just 25,000 Starpoints, so believe it or not, the 30K bonus is as good as it gets for these cards.
Per Terms, You're Not Eligible for the Personal SPG AMEX If You've Had the Card Before
AMEX bonuses have become once in a lifetime, for personal credit cards, so officially, you are NOT eligible for the 30K if you have EVER had the Starwood Preferred Guest AMEX: “Welcome bonus offer not available to applicants who have or have had this product.”
SPG Business Cardholders Can Reapply If It's Been at Least 12 Months Since They Had the SPG Business Card
If you have a small business, you can apply for the 30K SPG Business card offer, albeit with the higher $5000 minimum spend, as long as you 1) don't currently have the card and 2) haven't had the card in at least 12 months.
Other Travel Rewards Credit Cards Could Be a Better Deal for Similar Minimum Spend
As I mentioned, I'm ambivalent about both SPG AMEX cards, for several reasons:
1. I Rarely Stay in Starwood Hotels, So Effectively No Bonus Categories
Years ago I was an SPG Platinum member due to work travel, but nowadays I almost never stay in Starwood hotels, even the St. Regis or those in the Luxury Collection. No question, Starwood has more properties than Hyatt or smaller chains, but I don't find it to be competitive in the luxury market, especially compared to Four Seasons, The Peninsula and Mandarin Oriental, let alone Aman Resorts.
2. SPG Points Are Valuable for Airline Transfers, But the Time Lag is a Pain
Personally, I only use SPG points for transfers to airlines. The rub? The transfer is never instant. Here are examples of the transfer times: SPG Points Transfer Times to Airlines
3. Only 30K Bonus? Other Cards Rank Higher
You'll notice that I didn't mention the 30K SPG AMEX in my post earlier this year, Which Travel Credit Cards We Plan to Apply For; instead I mentioned offers with at least a 50K bonus. Now, to be fair, SPG points are more valuable than most other airline miles since you can transfer points with a 25% bonus, when transferring in increments of 20,000 points. So those 30,000 points are at least 35,000 airline miles. Even so, AMEX's targeted offers and some other card offers are more enticing, for example:
- 150K AMEX Business Platinum Card Bonus Offer (Targeted)
- 75K AMEX Business Gold Rewards Card Bonus Offer (Targeted)
- 50K Citi Prestige or 100K Citi Prestige (Targeted)
- 50K Citi ThankYou Premier
- Hyatt Visa with 2 Free Nights, $50 Statement Credit and 5000 Bonus Points
The Bottom Line
If you do stay at a lot of Starwood hotels, it makes perfect sense to get one or both cards, if you're eligible for the 30K bonus. Or, if you've somehow applied for most all other attractive credit card offers and are going through a dry spell of credit card offers, it could also make sense. But if you don't stay at a lot of SPG properties, the cards are a harder sell, even if you do see value in turning the points into miles. The 30K bonus just isn't enticing vs. other cards, and particularly for the business card with the $5K minimum spend, since that's an opportunity cost that could get you significantly more points from other cards' signup bonuses.
Do you plan to apply for either of the 30K SPG AMEX cards, or for other cards?
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